COLORADO DOUBLE TAX EXMEPT BOND FUND INC
N-18F1, 1998-12-08
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                                                              File No. 811-08023


                       SECURITIES AND EXCHANGE COMMISSION
                              Washington, DC 20549




                NOTIFICATION OF ELECTION PURSUANT TO RULE 18f-1
                    UNDER THE INVESTMENT COMPANY ACT OF 1940


                   Colorado Double Tax-Exempt Bond Fund, Inc.
                   ------------------------------------------
                            Exact Name of Registrant



                            NOTIFICATION OF ELECTION

     The undersigned  registered open-end investment company hereby notifies the
Securities  and Exchange  Commission  that it elects to commit  itself to pay in
cash all  redemptions by a shareholder of record as provided and limited by Rule
18f-1 under the  Investment  Company  Act of 1940.  It is  understood  that this
election is  irrevocable  while such Rule is in effect unless the  Commission by
order upon application permits the withdrawal of this Notification of Election.


<PAGE>


                                   SIGNATURE

     Pursuant to the requirements of Rule 18f-1 under the Investment Company Act
of 1940,  the  registrant  has caused this  notification  of election to be duly
executed  on its behalf in the city of Denver and the state of  Colorado  on the
8th day of December, 1998.

                                      Colorado Double Tax-Exempt Bond Fund, Inc.
                                      ------------------------------------------
                                                 (Name of Registrant)


                                      By /s/ Calvin F. Isaak
                                             -----------------------------------
                                             Calvin F. Isaak, Director



Attest: /s/ Stan Voth
            --------------------------
            Stan Voth, Secretary



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